latest news releases from the newsroom
Flushing Financial Corporation
Flushing Financial Corporation to Record Other-Than-Temporary Impairment Charge in Fourth Quarter
LAKE SUCCESS, N.Y., Jan. 23, 2008 (PRIME NEWSWIRE) -- Flushing Financial Corporation (the "Company") (Nasdaq:FFIC), the parent holding company for Flushing Savings Bank, FSB, today announced it will record an after-tax other-than-temporary impairment charge of $2.6 million, or $0.13 per diluted share, in the quarter ended December 31, 2007 to reduce the carrying amount of its investments in preferred stock issues of Freddie Mac and Fannie Mae, two government sponsored entities, to the securities market value of $28.2 million at December 31, 2007. These investment grade securities are held in the Company's available for sale portfolio. Prior to recording this charge, the impairment had been reflected as a reduction to stockholders' equity through other comprehensive income. Therefore, recording this charge has no effect on stockholders' equity.
Elite Pharmaceuticals, Inc.
Elite Pharmaceuticals, Inc. Retains The Global Consulting Group as Strategic Communications Advisors
NORTHVALE, N.J, Jan. 23, 2008 (PRIME NEWSWIRE) -- Elite Pharmaceuticals, Inc. (AMEX:ELI), a leading drug delivery, specialty pharmaceutical company focused primarily on producing proprietary abuse resistant, extended release pain compounds, today announced that it has retained The Global Consulting Group as the company's strategic investor and media relations counsel.